73% of Americans plan to travel this summer

ValuePenguin Study Finds Americans Will Travel Less But Plan To Spend More Money While On Vacation

New YorkAnd 25 May 2022 /PRNewswire/ — After a two-year slump, summer travel heats up. a New ValuePenguin scan It found that 73% of Americans are willing to cross desirable destinations off their lists but not everyone is willing to splurge. The high costs and the lingering epidemic are causing some to withdraw and stay at home.

Highlights

  • More Americans are planning to travel this year – On average they plan to spend about $2700 per trip, up 300 dollars from the year 2021.
  • High costs prevent others from taking vacation – 57% of those not traveling this summer say they can’t afford a vacation, up from 43% last summer.
  • Few summer travelers will ever take on debts Last summer, 48% thought they might add travel debt, but that’s down to 29% this year.
  • Summer road trips are still popular, while confidence in flying has increased from last year Although 79% of people plan to drive, at least 45% plan to fly.

The survey found that more Americans are planning to travel and are preparing for it financially. 71% refuse to borrow for their trip. 15% of travelers surveyed said they had changed their mode of transportation to accommodate higher travel costs. With soaring fuel costs and ticket prices, advance planning can help travelers save.

“I think savings plays a huge role in the fact that fewer people will be debtors for their holidays this year,” he says. Sophia Mendel, expert in ValuePenguin credit cards and travel rewards. “Since a lot of people have fallen back on major rides over the past two years, it’s possible that they saved money to take one this year,” she explains.

While 57% of Americans who said they do not travel cannot afford a vacation this summer, at least 35% of those who do not travel have chosen to travel in the summer due to remaining COVID-19 concerns. With mask mandates lifted and restrictions eased, some are taking extra precautions by staying at home.

Not all travelers plan to be separated from their summer vacations, 24% say they will work remotely to avoid taking vacation days. Even if that’s the case, it doesn’t seem to work, the ongoing pandemic or potential inflation will prevent travelers from visiting popular destinations this summer.

5 summer travel tips

If you are planning a vacation this summer, these tips can help you save money and relax during your trip:

  • Travel cash rewards/points. If you have miles, points or rewards on an airline or hotel card, redeem them to avoid losing them due to the reduced value of your travel rewards.
  • Power your road trip with gas credit cards. While gas prices continue to rise, offset the cost of road trips with a card that offers bonus points or Cashback for spending on gas.
  • Watch out for COVID restrictions. Restrictions have been relaxed, but if you’re traveling abroad this summer, be sure to check the COVID-19 requirements at your destination and return to the US
  • Include downtime in your business trip. If you’re working remotely during this summer’s vacation, set clear limits on working hours and turn off notifications.
  • Find travel deals. Travel prices are likely to go up, do your research, track prices and be ready to book at any moment.

Full report: https://www.valuepenguin.com/summer-travel-plans-survey

methodology

ValuePenguin commissioned Qualtrics to conduct an online survey of 1,050 US consumers From 15 to 20 April 2022. The survey was conducted using a non-probability-based sample, and quotas were used to ensure that the sample base was representative of the general population. The researchers reviewed all responses to quality control.

About ValuePenguin

ValuePenguin.com, LendingTree Inc., is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with other possible options they may have. For more information, please visit the website www.valuepenguin.comLike our Facebook page, or follow us on Twitter @ValuePenguin.

Media contact:
Nadia Gonzalez
[email protected]

SOURCE ValuePenguin.com

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